Bike and car parts retailer Halfords has revealed plunging profits after it was knocked by soaring costs and customers cutting back their spending.
But the Redditch-based listed firm remains upbeat, forecasting a return to earnings growth over the year ahead.
Halfords posted a 55 per cent fall in pre-tax profit to £43.5 million in the year to March 31, down from £96.6 million, while underlying profits were 43 per cent lower at £51.5 million. Revenue was £1.59 billion, a climb from £1.38 billion for 2021/22.
